DIDIC posts RO 17.4m half-year profit in first results since OIFC merger
MUSCAT: Dhofar International Development and Investment Company SAOG (DIDIC) reported a net profit after tax of RO 17.404 million for the six months ended June 30, 2026, in its first full half-year since completing its merger with Oman Investment and Finance Company SAOG (OIFC).
Total comprehensive income attributable to shareholders reached RO 24.097 million, against RO 4.650 million a year earlier, when net profit stood at RO 5.366 million. Chairman Khalid bin Mustahail bin Ahmed al Mashani said the prior-year figures were not directly comparable, citing the merger effective July 1, 2025 and the completion of purchase price allocation.
The Group closed the period with total assets of RO 589.506 million and shareholders’ equity of RO 151.64 million, including retained earnings of RO 66.137 million. Basic earnings per share rose to RO 0.034 from RO 0.013.
The merger left DIDIC managing nine subsidiaries and six associates, with Dhofar Insurance Company SAOG and Dhofar Foods and Investment Company SAOG now consolidated as subsidiaries.
Among its banking associates, Bank Dhofar, in which DIDIC holds 23.29 per cent — lifted net profit by 15.20 per cent to RO 27.26 million, with operating income up 11.40 per cent to RO 94.09 million and the cost-to-income ratio improving to 45.44 per cent from 48.18 per cent.
Sohar International, 13.03 per cent held, posted a 15 per cent rise in profit to RO 53 million, with total assets up 30 per cent to RO 10.258 billion and customer deposits up 26 per cent to RO 7.943 billion.
Dhofar Insurance raised net profit by 55 per cent to RO 4.038 million despite a 2 per cent fall in gross written premiums to RO 55.666 million, holding a 16.6 per cent market share. Dhofar Foods and Investment reported net profit of RO 2.481 million against RO 0.511 million.
The filed accounts also show a consolidated loss of RO 1.046 million for the second quarter alone, against a profit of RO 1.625 million in the same quarter of 2025.
Net assets per share eased to RO 0.355 from RO 0.391 at end-2025. DIDIC issued RO 30 million of unsecured perpetual subordinated bonds during the period, allocated to shareholders as a bonus issue funded by the capitalisation of retained earnings.
